REGISTERED COMPANY NUMBER: 00761667 (England and Wales) REGISTERED CHARITY NUMBER: 229640
UNAUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024 FOR
SWANSEA LITTLE THEATRE LIMITED
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA
SWANSEA LITTLE THEATRE LIMITED
CONTENTS OF THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
| Page | |||
|---|---|---|---|
| Report of the Trustees | to | 3 | |
| Independent Examiner's Report | 4 | ||
| Statement of Financial Activities | 5 | ||
| Balance Sheet | 6 | ||
| Notes to the Financial Statement | 7 | to |
12 |
| Detailed Statement of Financial Activities | 13 |
SWANSEA LITTLE THEATRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
The trustees who are also directors of the charity for the purposes of the Companies Act 2006, present their report with the financial statements of the charity for the year ended 30 June 2024. The trustees have adopted the provisions of Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019).
OBJECTIVES AND ACTIVITIES
To promote, establish and manage a community theatre, namely the Dylan Thomas Theatre.
Presentation to the public of Swansea Little Theatre productions.
To establish and promote theatre in education by the annual hiring to Theatre Na n'Og, Skelly Primary, Urdd, Maes Y Dderwen School, Swansea University and others. Thus enabling young people to visit the theatre and experience high quality theatre in education work. Catchment area includes Rhondda Cynon Taf, Neath Port Talbot and City and County of Swansea.
To encourage and let the theatre to diverse community groups, which include local disabled groups, dance groups and exhibitions.
In addition to its annual in-house programme, Swansea Little Theatre undertakes outreach programmes with special focus on communities that have difficulty accessing 1st class theatre within their area.
Establish the 'Dylan Thomas Youth Academy for students aged 5 - 18 years to promote and advance theatre excellence.
Public Benefit
In setting our objectives and planning our objectives our Trustees have given careful consideration to the Charity Commission's general guidance on public benefit and in particular to its supplementary public benefit guidance on advancing the arts.
The trustees are aware of the deteriorating state of the building and had wisely designated funds for a major refurbishment, we are currently agreeing a new 125 year lease with City and County of Swansea Council.The favourable decision was received early 2023 but we then had to cope with two major problems caused by water see page in the foyer area. This necessitated an electrical repair and we still have a structural repair to do.
The Trustees can purse a major upgrade and have decided to designate charity funds to contribute to a major financial project. In the year 2024 £174,000 has been designated to the refurbishment of the Box Office, back of the theatre, raise the roof and deal with the asbestos problems should they arise. The total expenditure on this project will be significant and will rely on additional grant support.
ACHIEVEMENT AND PERFORMANCE
Swansea Little Theatre is one of the earliest amateur theatre companies in the U.K. and the first 'Little Theatre' in Wales. It was established in 1924 and Dylan Thomas was an active member until 1934. This is our 100th Anniversary and a number of celebrations are taking place.
The theatre is now one of the busiest community theatres in Wales used extensively by both amateur and professional companies. It also hosts school productions, local dance groups, conferences, exhibitions and workshops. The theatre's wardrobe also provides costumes for drama companies, schools, colleges and community groups.
The theatre is a member of the partnership developing Swansea's Maritime Cultural Quarter. Other partners include The National Waterfront Museum, The Dylan Thomas Centre, Swansea Museum and The Mission Gallery.
The theatre is unique in the facilities it offers to the disabled both as performers and audience. Not only do we have ease of access for wheelchair users but we also have a hearing loop in the auditorium.
We promote and encourage new theatrical directors and writers and offer training on all aspects of theatre and business - stage lighting, sound, bar management, office management, graphics, publicity, stage management.
We are an active member of The National Operatic and Drama Association (NODA).
The Theatre is renewing equipment in line with CO2 guidelines and applying for grants for a number of projects.
Page 1
SWANSEA LITTLE THEATRE LIMITED
REPORT OF THE TRUSTEES FOR THEYEAR ENDED30JUNE2024
FINANCIAL REVIEW
Financial position
The total income of £108,303 (2023: £81,061) was spent on direct charitable expenditure totalling £95,393 (2023: £76,027) resulting in a net surplus of £12,910 (2023: net surplus of £5,034).
The Statement of Financial Activities reflects the income and expenditure incurred by Swansea Little Theatre in carrying out its role in respect of its objectives. The unrestricted funds at 30 June 2024 were £271,301 (2023: £244,255) and the restricted funds £79,013 (2023: £93,149).
FUTURE PLANS
Against a backdrop of limited resources, the company continue to generate match-funding in order to secure funding for Phase 2 improvements to include auditorium upgrades, new dressing rooms, wardrobe and storage. We are also looking at funding for replacement auditorium seating and pursuing a joint venture with local artists to renew the outside mural,
STRUCTURE, GOVERNANCE AND MANAGEMENT
Governing document
The organisation is a Charitable Company limited by guarantee, incorporated and registered as a Charity on 22 May 1963. The company was established under a Memorandum of Association which established the objects and powers of the Charitable Company and is governed under its Articles of Association. In the event of the Company being wound up, members are required to contribute an amount not exceeding £1.
Recruitment and appointment of new trustees
The Directors of the Company are also Charity Trustees for the purposes of Charity Law and, under the Company's Articles are known as the Board of Directors. Under the requirements of the Memorandum and Articles of Association the Board of Directors are elected to serve for a period of three years after which they must be re-elected at the next Annual General Meeting.
Organisational structure
The Swansea Little Theatre has a Board of Directors of up to nine members who meet monthly and are responsible for the strategic direction and policy of the theatre. At present, the Board of Directors has members from a variety of professional backgrounds and each board member undertakes an area of responsibility relevant to the work of the theatre ..
Risk management
The Board of Directors has conducted a review of the major risks to which the theatre is exposed. A risk register has been established and is updated at least annually.
Where appropriate, systems or procedures have been established to mitigate the risks the theatre faces. Procedures are in place to ensure compliance with health and safety of volunteers, clients and visitors to the theatre.
We are in compliance with DBS checks and chaperone training.
A child protection policy is in place together with facilities in compliance with the Disability Discrimination Act.
REFERENCE AND ADMINISTRATIVE DETAILS Registered Company number 00761667 (England and Wales)
Registered Charity number
229640
Registered office
Dylan Thomas Theatre Gloucester Place Maritime Quarter Swansea West Glamorgan SA11TY
Page 2
SWANSEA LITTLE THEATRE LIMITED
REPORT OF THE TRUSTEES FOR THE YEAR ENDED 30 JUNE 2024
Trustees
Mrs D E Morgan-Harvey Ms F Purchase Mrs S E Jefferies B Wheeler (resigned 18.9.23) S Morgan Mrs C Jones A Merrell Theatre Technician J Thomas (resigned 18.9.23) Mrs C Owen Trustee Ms C Abrahams Director (appointed 18.9.23) DJ Jenner Director (appointed 18.9.23)
Independent Examiner
Andrew Silk Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA7 9LA
Bankers
Barclays Bank pie
262 Oxford Street Swansea SA13BR
Approved by order of the board of trustees on
....... . . Jl7 �igoed oo its behalf by, au.g
-Harvey - Trustee
Page 3
INDEPENDENT EXAMINER'S REPORT TO THE TRUSTEES OF SWANSEA LITTLE THEATRE LIMITED
Independent examiner's report to the trustees of Swansea Little Theatre Limited[(] 'the Compan[y] '[) ] I report to the charity trustees on my examination of the accounts of the Company for the year ended 30 June 2024.
Responsibilities and basis of report
As the charity's trustees of the Company (and also its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act').
Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of your charity's accounts as carried out under Section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under Section 145(5) (b) of the 2011 Act.
Independent examiner's statement
I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe:
-
accounting records were not kept in respect of the Company as required by Section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or
-
the accounts do not comply with the accounting requirements of Section 396 of the 2006 Act other than any requirement that the accounts give a true and fair view which is not a matter considered as part of an independent examination; or
-
the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities (applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)).
I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached.
Andrew Silk
Bevan Buckland LLP Ground Floor Cardigan House Castle Court Swansea Enterprise Park Swansea SA? 9LA Date: ... \1./� .. �../J�'J::\ ...... .
Page 4
SWANSEA LITTLE THEATRE LIMITED
STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| Unrestricted funds Notes £ INCOME AND ENDOWMENTS FROM Donations and legacies 2 1,735 Charitable activities Charitable Activities 101,790 Investment income 3 6,246 Total 109,771 EXPENDITURE ON Charitable activities Charitable Activities 82,725 NET INCOME/(EXPENDITURE) 27,046 RECONCILIATION OF FUNDS Total funds brought forard 244,255 TOTAL FUNDS CARRIED FORWARD 271,301 |
Restricted funds £ 14,136 (14,136) 93,149 79,013 |
2024 Total funds £ 1,735 101,790 6,246 109,771 96,861 12,910 337,404 350,314 |
2023 Total funds £ 1,971 76,861 2,229 |
|---|---|---|---|
| 81,061 76,027 |
|||
| 5,034 332,370 |
|||
| 337,404 |
The notes form part of these financial statements
Page 5
SWANSEA LITTLE THEATRE LIMITED
BALANCE SHEET 30 JUNE 2024
| FIXED ASSETS Tangible assets CURRENT ASSETS Stocks Debtors Cash at bank CREDITORS Amounts falling due within one year NET CURRENT ASSETS Notes 8 9 10 11 Unrestricted funds £ 24,528 2,339 4,246 242,631 249,216 (2,443) 246,773 TOTAL ASSETS LESS CURRENT LIABILITIES 271,301 NET ASSETS FUNDS Unrestricted funds Restricted funds TOTAL FUNDS 12 271,301 |
Restricted funds £ 79,013 79,013 79,013 |
2024 Total funds £ 103,541 2,339 4,246 242,631 249,216 (2,443) 246,773 350,314 350,314 271,301 79,013 350,314 |
2023 Total funds £ 118,120 2,339 4,493 213,942 220,774 (1,490) 219,284 337,404 337,404 244,255 93,149 337,404 |
|---|---|---|---|
The charitable company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2024.
The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2024 in accordance with Section 476 of the Companies Act 2006.
The trustees acknowledge their responsibilities for (a)
-
(a) ensuring that the charitable company keeps accounting records that comply with Sections 386 and 387 of the Companies Act 2006 and
-
(b) preparing financial statements which give a true and fair view of the state of affairs of the charitable company as at the end of each financial year and of its surplus or deficit for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the charitable company.
These financial statements have been prepared in accordance with the provisions applicable to charitable companies subject to the small companies regime.
The . were approved_ by the Board of Trustees and authorised for issue on ......[:.;] Jint9!J ) ... ':bf / ci'lj_tements d. ........... ... and were signed on its behalf by:
The notes form part of these financial statements
Page 6
SWANSEA LITTLE THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES
Basis of preparing the financial statements
The financial statements of the charitable company, which is a public benefit entity under FRS 102, have been prepared in accordance with the Charities SORP (FRS 102) 'Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019)', Financial Reporting Standard 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland' and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.
Financial reporting standard 102 • reduced disclosure exemptions
The charitable company has taken advantage of the following disclosure exemption in preparing these financial statements, as permitted by FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland':
the requirements of Section 7 Statement of Cash Flows.
Income
All income is recognised in the Statement of Financial Activities once the charity has entitlement to the funds, it is probable that the income will be received and the amount can be measured reliably.
Expenditure
Liabilities are recognised as expenditure as soon as there is a legal or constructive obligation committing the charity to that expenditure, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure is accounted for on an accruals basis and has been classified under headings that aggregate all cost related to the category. Where costs cannot be directly attributed to particular headings they have been allocated to activities on a basis consistent with the use of resources.
Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Improvements to property • 4% on cost • Fixtures and fittings 25% reducing balance • Equipment 25% reducing balance
Assets below £250 are not capitalised, but included within expenses. The Trustees do not believe any assets are impaired and do not carry out impairment reviews.
Stocks
Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.
Taxation
The charity is exempt from corporation tax on its charitable activities.
Fund accounting
Unrestricted funds can be used in accordance with the charitable objectives at the discretion of the trustees.
Designated funds are unrestricted funds earmarked by the Trustees for particular purposes falling in future time periods.
Restricted funds are funds subject to specific restrictions imposed by donors which have been raised by the charity for particular purposes. The aim and use of each restricted fund is set out in the notes to the financial statements.
Grants
Grants relating to specific capital expenditure are treated as deferred income which is the credited to the profit and loss account over the related asset's life.
Revenue grants are credited to the profit and loss account in the same period as the expenditure to which they relate.
Cash at bank and in hand
Cash at bank and cash in hand includes cash and short term highly liquid investments held within a deposit or similar account.
continued ...
Page 7
SWANSEA LITTLE THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 30 JUNE 2024
1. ACCOUNTING POLICIES - continued
Grants
Creditors and provisions
Creditors and provisions are recognised where the charity has a present obligation resulting from a past event that will probably result in the transfer of funds to a third party and the amount due to settle the obligation can be measured or estimated reliably. Creditors and provisions are normally recognised at their settlement amount after allowing for any trade discounts due.
2. DONATIONS AND LEGACIES
3.
4.
| DONATIONS AND LEGACIES | ||
|---|---|---|
| 2024 | 2023 | |
| £ | £ | |
| Donations/ Fundraising | 1,735 | 1,971 |
| -- | -- | |
| INVESTMENT INCOME | ||
| 2024 | 2023 | |
| £ | £ | |
| Deposit account interest | 6,246 | 2,229 |
| NET INCOME/(EXPENDITURE) | ||
| Net income/(expenditure) is stated after charging/(crediting): | ||
| 2024 | 2023 | |
| £ | £ | |
| Depreciation - owned assets | 21,125 | 21,901 |
5. TRUSTEES' REMUNERATION AND BENEFITS
There were no trustees' remuneration or other benefits for the year ended 30 June 2024 nor for the year ended 30 June 2023.
Trustees' expenses
There were no trustees' expenses paid for the year ended 30 June 2024 nor for the year ended 30 June 2023.
6. STAFF COSTS
No employees received emoluments in excess of £60,000.
The charity is run by the Trustees and volunteers, there are no employed staff.
7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES
| Unrestricted funds £ INCOME AND ENDOWMENTS FROM Donations and legacies 1,971 Charitable activities Charitable Activities 76,861 Investment income 2,229 Total 81,061 EXPENDITURE ON Charitable activities Charitable Activities 61,645 NET INCOME/(EXPENDITURE) 19,416 Page 8 |
Restricted Total funds funds £ £ 1,971 76,861 2,229 81,061 14,382 76,027 (14,382) 5,034 continued ... |
Total funds £ 1,971 76,861 2,229 |
|---|---|---|
| 81,061 |
SWANSEA LITTLE THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
| 7. COMPARATIVES FOR THE STATEMENT OF FINANCIAL ACTIVITIES - continued Unrestricted funds £ RECONCILIATION OF FUNDS Total funds brought forard 224,839 TOTAL FUNDS CARRIED FORWARD 244,255 8. TANGIBLE FIXED ASSETS Improvements Fixtures to and property fittings £ £ COST At 1 July 2023 353,401 55,958 Additions At 30 June 2024 353,401 55,958 DEPRECIATION At 1 July 2023 258,952 48,288 Charge for year 14,136 1,792 At 30 June 2024 273,088 50,080 NET BOOK VALUE At 30 June 2024 80,313 5,878 At 30 June 2023 94,449 7,670 9. STOCKS Stocks 10. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Prepayments and accrued income |
Restricted funds £ 107,531 93,149 Equipment £ 128,522 6,546 135,068 112,521 5,197 117,718 17,350 16,001 2024 £ 2,339 -- 2024 £ 4,246 |
Total funds £ 332,370 337,404 Totals £ 537,881 6,546 544,427 419,761 21,125 440,886 103,541 118,120 2023 £ 2,339 -- 2023 £ 4,493 |
|---|---|---|
continued ...
Page 9
SWANSEA LITTLE THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS -continued FOR THE YEAR ENDED 30 JUNE 2024
| 11. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR Accrued expenses 12. MOVEMENT IN FUNDS Unrestricted funds General Funds Major Refurbishment Fund Restricted funds Restricted Capital Funds Cory Grant TOTAL FUNDS Net movement in funds, included in the above are as follows: Unrestricted funds General Funds Restricted funds Restricted Capital Funds Cory Grant TOTAL FUNDS Comparatives for movement in funds Unrestricted funds General Funds Major Refurbishment Fund Restricted funds Restricted Capital Funds Cory Grant TOTAL FUNDS |
At 1.7.23 £ 94,255 150,000 244,255 85,383 7,766 93,149 337,404 Incoming resources £ 109,771 109,771 At 1.7.22 £ 74,839 150,000 224,839 95,883 11,648 107,531 332,370 |
2024 2023 £ £ 2,443 1,490 -- -- Net movement At in funds 30.6.24 £ £ 27,046 121,301 150,000 27,046 271,301 (12,195) 73,188 (1,941) 5,825 (14,136) 79,013 12,910 350,314 Resources Movement expended in funds £ £ (82,725) 27,046 (12,195) (12,195) (1,941) (1,941) (14,136) (14,136) (96,861) 12,910 Net movement At in funds 30.6.23 £ £ 19,416 94,255 150,000 19,416 244,255 (10,500) 85,383 (3,882) 7,766 (14,382) 93,149 5,034 337,404 |
|---|---|---|
Page 10
continued ...
SWANSEA LITTLE THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
12. MOVEMENT IN FUNDS - continued
Comparative net movement in funds, included in the above are as follows:
| Incoming | Resources | Movement | |
|---|---|---|---|
| resources | expended | in funds | |
| £ | £ | ||
| Unrestricted funds | |||
| General Funds | 81,061 | (61,645) | 19,416 |
| Restricted funds | |||
| Restricted Capital Funds | (10,500) | (10,500) | |
| Cory Grant | (3,882) | (3,882) | |
| (14,382) | (14,382) | ||
| TOTAL FUNDS | 81,061 | (76,027) | 5,034 |
| --- | --- |
A current year 12 months and prior year 12 months combined position is as follows:
| A current year 12 months and prior year 12 mont | hs combined position is as follows | : | |
|---|---|---|---|
| Net | |||
| movement | At | ||
| At 1.7.22 | in funds | 30.6.24 | |
| £ | £ | £ | |
| Unrestricted funds | |||
| General Funds | 74,839 | 46,462 | 121,301 |
| Major Refurbishment Fund | 150,000 | 150,000 | |
| 224,839 | 46,462 | 271,301 | |
| Restricted funds | |||
| Restricted Capital Funds | 95,883 | (22,695) | 73,188 |
| Cory Grant | 11,648 | (5,823) | 5,825 |
| 107,531 | (28,518) | 79,013 | |
| TOTAL FUNDS | 332,370 | 17,944 | 350,314 |
A current year 12 months and prior year 12 months combined net movement in funds, included in the above are as follows:
as follows: |
|||
|---|---|---|---|
| Incoming | Resources | Movement | |
| resources | expended | in funds | |
| £ | £ | ||
| Unrestricted funds | |||
| General Funds | 190,832 | (144,370) | 46,462 |
| Restricted funds | |||
| Restricted Capital Funds | (22,695) | (22,695) | |
| Cory Grant | (5,823) | (5,823) | |
| (28,518) | (28,518) | ||
| TOTAL FUNDS | 190,832 | (172,888) | 17,944 |
Restricted Capital funds is in relation to a Grant received during 2007 from the Arts Council of Wales, the grant was utilised to refurbish the theatre.The fund is charged with depreciation arising thereon.
The Cory Grant provided funding towards the purchase of fixed assets. The fund is charged with depreciation arising thereon.
Page 11
continued ...
SWANSEA LITTLE THEATRE LIMITED
NOTES TO THE FINANCIAL STATEMENTS - continued FOR THE YEAR ENDED 30 JUNE 2024
13. RELATED PARTY DISCLOSURES
There were no related party transactions for the year ended 30 June 2024.
Page 12
SWANSEA LITTLE THEATRE LIMITED
DETAILED STATEMENT OF FINANCIAL ACTIVITIES FOR THE YEAR ENDED 30 JUNE 2024
| INCOME AND ENDOWMENTS Donations and legacies Donations/ Fundraising Investment income Deposit account interest Charitable activities Sundry income Memberships Bar sales Hiring of facilities Academy Wardrobe Box Office Productions Total incoming resources EXPENDITURE Charitable activities Insurance Light, heat and water Theatre Academy Administration Maintenance Cleaning Box Office Bar Consumables Productions Depn of improvements to property Depn of fixtures & fittings Depn of equipment Support costs Finance Bank charges Suppor costs Accountancy and legal fees Total resources expended Net income |
2024 £ 1,735 6,246 89 4,804 11,868 39,534 6,352 299 1,680 37,164 101,790 109,771 3,527 20,076 3,608 2,220 3,536 10,556 4,740 655 10,202 13,007 14,136 1,792 5,197 93,252 312 3,297 96,861 12,910 |
2023 £ 1,971 2,229 312 4,417 10,768 27,265 4,741 260 1,624 27,474 |
|
|---|---|---|---|
| 76,861 | |||
| 81,061 3,252 10,680 3,358 1,632 720 5,041 4,702 951 7,058 14,515 14,136 2,389 5,376 73,810 156 2,061 76,027 5,034 |
|||
This page does not form part of the statutory financial statements
Page 13